I hope you’re going well this week, I hope you’re going as well as the property market continues to do. I’m starting to sound like a broken record because the market is trundling along quite nicely!
Interesting couple of points though. What I’m hearing is that the flow of stock that was supposed to come through in the first part of this year, hasn’t quite come out to play just yet. Various different parts of the market place are still finding themselves in a real struggle with that supply and demand issue.
What it is doing though for the vendors that do take the plunge, is that it’s providing them with a level of buyer depth that not one person in this country, could have predicted. It’s pretty in sane when you think about it, right? It’s a testament to the Australian people that they just want to get stuck in.
Now, another interesting thing that we wanted to have a look at today is the Property Management side of things. The investors that are seeing their properties get leased out in a lot more of a better fashion than what they were expecting. The rental side of things came out with some very interesting statistics. December, historically speaking, has its peak with respect to vacancy and days on market but last December, it very much bucked the trend – pretty much like everything else in real estate right now.
We saw some fantastic results, across every single state. Not just with regards to the rental amounts being received but also days on market hitting some really decent lows for December, year on year. And the momentum has carried on through, with lots of rental applications per property and the interesting thing is, the further out you go the more in demand these properties are.
So I wanted to talk to someone, who can give us his thoughts on where the Property Management space is likely to head over the course of the rest of this year. Kirk Stafford, The Property Management Coach, has been in the space for 37 years. He’s seen a number of cycles come and go and obviously although this one isn’t like any other, we can still call upon his experience to give us what he believes is likely to happen moving forward.
We also talk about a couple of key areas from a statistical point of view, that you really need to pay attention to if you’re a landlord or if you are a person on the front line in the property management space. So make sure you pin your ears back for this one and tune in to an absolute legend of the property management space that is, Kirk Stafford.
All this and much, much more on Property Line, make sure you tune in to the full episode above.
25 January, 2021